{"id":118276,"date":"2021-03-24T06:24:57","date_gmt":"2021-03-24T06:24:57","guid":{"rendered":"https:\/\/precoinnews.com\/?p=118276"},"modified":"2021-03-24T06:24:57","modified_gmt":"2021-03-24T06:24:57","slug":"ta-ethereum-struggles-below-1700-why-eth-could-accelerate-losses","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-struggles-below-1700-why-eth-could-accelerate-losses\/","title":{"rendered":"TA: Ethereum Struggles Below $1,700, Why ETH Could Accelerate Losses"},"content":{"rendered":"<p><em>Ethereum is struggling to recover above the $1,710 and $1,750 resistance levels against the US Dollar. ETH price is likely to continue lower if it fails to stay above the $1,650 support level.<\/em><\/p>\n<ul>\n<li>Ethereum is showing a few bearish signs below the $1,750 and $1,710 resistance levels.<\/li>\n<li>The price is currently trading well below $1,750 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,740 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct higher, but it is likely to face a strong selling interest near $1,710 and $1,750.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains At Risk<\/h2>\n<p>Ethereum tested the $1,650 support zone and started an upside correction. It climbed above the $1,700 level, but it struggled to even test $1,750. A high is formed near $1,720 before the price started a fresh decline.<\/p>\n<p>It broke the $1,700 level and retested the $1,660 support. Ether is now trading well below $1,750 and the 100 hourly simple moving average. A low is formed near $1,650 and the price is currently consolidating losses, similar to bitcoin.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/spring-cta-2.gif\" \/><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p>An initial resistance on the upside is near the $1,685 level. It is near the 50% Fib retracement level of the recent decline from the $1,721 high to $1,650 low. The first major resistance is near the $1,700 and $1,705 levels.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/Ethereum-20.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The 76.4% Fib retracement level of the recent decline from the $1,721 high to $1,650 low is also near $1,705. Moreover, there is a key bearish trend line forming with resistance near $1,740 on the hourly chart of ETH\/USD. A clear break above the $1,720 high and then a follow up move above $1,750 is must for a fresh increase in the near term.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to climb above the $1,705 and $1,720 resistance levels, it could continue to move down. An initial support on the downside is near the $1,660 level.<\/p>\n<p>The main support is near the $1,650 level. A clear downside break below the $1,650 support is likely to clear the path for a sharp decline. In the stated case, the price might test $1,600 or even $1,580 in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is still well below the 50 level.<\/p>\n<p>Major Support Level &ndash; $1,650<\/p>\n<p>Major Resistance Level &ndash; $1,720<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-struggles-below-1700\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is struggling to recover above the<\/p>\n","protected":false},"author":3,"featured_media":118275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Ethereum Struggles Below $1,700, Why ETH Could Accelerate Losses - 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